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==Breakout Strategy==
===Appearance===
===Creating Breakout Strategy orders===
===Breakout Strategy Parameters===
===Saving as Template===
no edit summary
[[Image:Breakout for the chart.png|thumb|right|Breakout Strategy on the chart]]
[[Image:Breakout Strategy in DOM.png|thumb|right|Breakout Strategy in the DOM window]]
The Breakout Strategy will place two stop orders at the prices (distance) specified, in order to catch the breakout when it happens. A buy stop order will be placed above the current price and a sell stop order below the current price.
Breakout Strategy orders are displayed as medium purple markers on the chart connected to the order price labels on the price scale with a dotted line and as medium purple markers in the DOM window.
For the '''[[Depth of market (DOM)|DOM window]]''', default Breakout Strategy order marker color can be modified in [[Depth of market (DOM)#How to Customize DOM Colors|Format Colors]] menu.
Create Breakout Strategy orders by one of the following methods:
* Drag-and-drop the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] to the '''chart'''; or: * Drag-and-drop the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] to the [[Depth of market (DOM)|DOM window]]; or:
* Right-click at the desired price level '''on the chart''' to see the shortcut menu, select '''[[Chart Trading#Place Order|Place Order]]''' and then click '''Breakout Strategy'''; or:
* Right-click at the desired price level on the [[Depth of market (DOM)|DOM window]] on the '''Sell''' or '''Buy''' columns to see the shortcut menu, select '''Place Strategy''' and then click '''Breakout Strategy'''; or:
* Right-click the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] in the '''[[Chart Trading#Place Order|Place Order]]''' menu to see the shortcut menu and click '''Apply Strategy'''. * Double-click the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] in the '''[[Chart Trading#Place Order|Place Order]]''' menu.
To modify default Breakout Strategy parameters:
# Right-click the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] in the '''Place Order''' menu to see the shortcut menu.
# Click '''Edit'''.
# Modify breakout and breakdown values in '''Breakout At''' and '''Breakdown At''' boxes.
Click '''More Parameters >>''' to show '''Qty''' and '''Time In Force''' fields (for more info see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]] and [[Chart Trading#Setting Time in Force|Time in Force]] sections).
To save the parameters as a template:
# Open '''Strategy Parameters''' window by one of the following methods:
#* Right-click the Breakout Strategy icon http[[File://www.multicharts.com/img/wiki/strategies/12BRK.png ]] in the '''[[Chart Trading#Place Order|Place Order]]''' menu to see the shortcut menu, then click '''Save as Template'''; or:
#* Click on the '''Save as Template''' button in the '''Place Strategy''' window when applying the strategy.
# Modify default Breakout parameters.
# Click '''Save'''.
# Choose the '''Breakout Template''' icon. http[[File://www.multicharts.com/img/wiki/strategies/13BRK.png]]
# Enter Breakout template name.
# Click '''OK'''.
